Finance & Mortgage
Bank Of England to Control UK Real Estate Boom
Jermaine Dupri Manages to Avoid Home Foreclosure A Second Time
29.3 Percent Americans Own Mortgage Free Homes
EDITOR'S PICKS
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Gov. Gavin Newsom Expedites Temporary Housing For Residents In Areas Struck By LA Wildfires
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Pasadena Native Lost Her House To LA Wildfires One Day After Paying Off Her Mortgage: 'It's Gone'
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How The Mircale Malibu Mansion And Pacific Palisades Home Survived The Devastating LA Fires
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What Happens To Your Mortgage And Property Tax When You Lose Your Home In A Natural Disaster?
The Consumer Financial Protection Bureau, which was formed in 2011 to protect the financial interests of the consumers of U.S., announced a new mortgage regulation that all the banks need to comply with. The rule will not only safeguard the consumers from faulty loans but also help Banks insure themselves against law suits. Barclays Joins UK Mortgage Rate Reduction Stream
Banking Giant Barclays announced that it will slash down mortgage rates up to 1 percent for new home investors. A new scheme, "The family Springboard Mortgage" was announced by the bank that is expected to help customers in financing their investments. BOFA to Sell Rights to Service $300 Billion Loans
Bank of America Corp is in talks to sell collection rights on $300 billion of mortgages, two sources familiar with the situation said, in an effort to offload problem exposure after huge losses from its Countrywide Financial acquisition. HSBC Reveals New Mortgage Rates for Prospective Investors
HSBC introduced new mortgage rates for prospective and fresh property investors. Experts have opined that the rates are the best deals in the market. The new rates will help attract more customers not only augmenting business for the bank but also boosting the real estate market. Nationwide Study Reveals Drop in UK House Prices
In a recent Nationwide study, it was observed that the total housing prices in the U.K. has witnessed a 1 percent slump over the year 2012. Price fluctuations displayed a regional divide. London was observed to be the strongest performing area in the depressed market condition. U.S. Construction Spending Analyzed, Markets to Gain Momentum in Latter Half of 2013
Construction spending in the country went down in November 2012. However, the rates witnessed a growth when compared to the percentage of the previous year at the same time period. Experts believe that with the conclusions of the tax decision, the housing and construction markets will accelerate by the second half of 2013. Nationwide Broadens Mortgage Borrowings Rate to UK Home Buyers
Nationwide Building Society announced it will provide a 95 percent mortgage loan to new home buyers on a condition that they would contribute a sum of money at regular intervals to their savings account for the mortgage. Fannie, Freddie May Have Lost $3 Billion in Libor
Mortgage finance giants Fannie Mae and Freddie Mac may have suffered more than $3 billion in losses due to manipulation of the benchmark interest rate known as Libor, according to an internal memo by a federal watchdog. U.S. Agency Sues JPMorgan Over Mortgage Securities
The U.S. credit union regulator sued JPMorgan Securities and Bear Stearns & Co on Monday over $3.6 billion in mortgage securities the bank allegedly sold to credit unions that collapsed because of losses from the securities. SEC Has Examined Bank of America Mortgage Repurches
Securities regulators have made inquiries into the mortgage repurchase practices at Bank of America Corp's Countrywide unit, according to a transcript filed in a lawsuit against the bank by insurer MBIA Inc.
